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Cuba Ventures Announces Tim Fernback as CFO and Re-Election of Directors at the AGM

ID: 1477977
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(Thomson Reuters ONE) -


VANCOUVER, British Columbia, Dec. 29, 2016 (GLOBE NEWSWIRE) -- Cuba Ventures
Corp. (TSX-V:CUV) (OTCBB:MPSFF) (the "Company") is pleased to announce that the
Company has appointed Tim Fernback MBA, CPA, CMA as its Chief Financial Officer
("CFO"). In addition, each one of the Company''s directors: Steve Marshall, James
Pettit, Donald Huston, Tim Fernback and Amanda Chow have been re-elected to the
board of directors of the Company at the Company''s annual general meeting of
shareholders held in Vancouver on December 16(th), 2016. Steve Marshall has
consented to act as CEO, James Pettit to act as President and Tim Fernback has
consented to act as CFO.

Tim Fernback has over twenty years of experience financing both private and
public micro-capitalization companies in Canada. Mr. Fernback ran the technology
consulting practice for Discovery Capital Corporation, a prominent British
Columbia venture capital firm specializing in financing and consulting to
technology-based start-up ventures. Mr. Fernback went on to run the Investment
Banking and Corporate Finance Departments for one of the oldest and most
respected Western Canadian-based brokerage firms, Wolverton Securities Ltd.
Currently, Mr. Fernback provides strategic consulting services including
business planning and analysis, supply chain management, capital markets
support, corporate finance, and mergers and acquisitions services as Regional
Director of The CFO Centre Limited, the world''s largest provider of permanent,
part-time and interim CFO services to growing companies. Mr. Fernback has served
as both a Director and Officer of several public companies.

Mr. Fernback is a graduate of McMaster University where he studied molecular
biology and biochemistry, and a graduate of the University of British Columbia,


where he completed an MBA with a concentration in Finance. He is an active
member of the Chartered Professional Accountants of British Columbia and is an
active member of many industry and trade organizations in Canada.

Cuba Ventures also announces that pursuant to its stock option plan, the Company
has granted incentive stock options to its various directors, officers,
employees and consultants to purchase up to an aggregate of 1,039,500 common
shares in the capital stock of the Company, exercisable for a period of 5 years,
at a price of $0.05 per share.

About Cuba Ventures Corp.:

Cuba Ventures Corp. is a publicly traded Canadian company capitalizing on the
growth and unique opportunities in the USD $3.5 billion per year Cuban travel
and tourism industry. Travelucion, a wholly owned subsidiary, is a digital media
and marketing company which owns a vast portfolio of Cuba related websites and
online portals providing travel information, featuring individual web assets for
Cuba''s popular cities and towns, online booking solutions and online
reservations through proprietary software, catering to international visitors to
Cuba. Travelucion''s online travel division is a duly licensed retail travel
supplier handling millions of dollars in sales annually.

Travelucion''s 432 Cuba focused multilingual websites generate over 30 million
page-views per year, directing traffic to the company''s online booking and e-
commerce sites. These online websites cover all facets of Cuba including over
80 travel destinations, hotels & resorts, bed & breakfast, tours, car rentals,
restaurants, as well as Cuban culture, history, music, celebrities, sports,
medical treatments and more.

Travelucion''s revenues have been rapidly growing in the wake of the notable
shift in American policy towards Cuba. With diplomatic relations now normalized
and restrictions on qualified American travel to Cuba relaxed, opening of the
multi-billion dollar travel market to the Caribbean nation is becoming a
reality. Travelucion''s continued media dominance over the past two decades has
provided Cuba Ventures with a competitive advantage in the burgeoning Cuba
travel and online media space. With the relaxing of rules for American travelers
to Cuba and the potential of further easing, growth and investment opportunities
are on the rise in Cuba.

For further information on Cuba Ventures Corp. (TSX-V: CUV) or Travelucion visit
the Company''s website at www.cubaventures.com or www.travelucion.com. Cuba
Ventures Corp. has approx. 62.6 million shares issued and outstanding.

CUBA VENTURES CORP.

STEVE MARSHALL
______________________________
Steve Marshall
CEO

For further information contact myself or:
Nick Findler
Cuba Ventures Corp.
Telephone: 604-639-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info(at)cubaventures.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-
looking statements". All statements in this release, other than statements of
historical facts, that address events or developments that management of the
Company expects, are forward-looking statements. Although management believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management''s beliefs, estimates or
opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued availability of
capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further
information.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Cuba Ventures Corp. via GlobeNewswire






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Date: 12/29/2016 - 14:30
Language: English
News-ID 1477977
Character count: 2349
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Firma: Cuba Ventures Corp.
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Stadt: Vancouver, BC
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